AWC (7579) - AWC Berhad – Technical Outlook


AWC (7579) - AWC Berhad – Technical Outlook


AWC Berhad - Stock Code: 7579
AWC Daily Chart:AWC technical outlookYesterday, AWC’s share price surged 4.5 sen (14.3%) to finish at RM0.845. Trading volume for the day spiked to almost six-fold its 30-day moving average (11.9m shares vs 2.1m). On the daily chart, AWC has broken out of a sideways range to signal a potential start of a new uptrend. The MACD has also been on a rising trend while the Stochastic indicator has hooked upwards to reflect the bullish view. From here, it is expected that the share price to be upside biased. The July's high of RM0.91 (R1) is the next major resistance to look out for. Should this level be taken out next, AWC would then have a clear path towards RM1.00 (R2) further up. Immediate support levels are RM0.80/0.78 (S1) although a break below would be highly negative with the next support only present at RM0.72 (S2)
source: Kenanga Research – 16/11/16

AWC BERHAD
The Company principal activity is investment holding company. The subsidiaries of the Company are involve in facilities management service mechanical and electrical engineering air-conditioning and building automation and landscaping.

AWC (7579) - AWC Berhad – Technical Outlook
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